Investment Rating - The report maintains an "Overweight" rating for the real estate industry [2][4]. Core Insights - The recent increase in transaction volume is attributed to the government's focus on stabilizing the real estate market and enhancing the well-being of citizens, which is expected to release pent-up demand [2][4]. - In the week of March 5, 2026, the transaction area for new homes in 30 major cities reached 1.47 million square meters, a week-on-week increase of 243.4% and a year-on-year decrease of 12.4% compared to the same week in 2025 [4]. - The report highlights that first-tier cities saw a sales area of 300,000 square meters, up 200.6% week-on-week but down 38% year-on-year, while second-tier cities experienced a sales area of 910,000 square meters, up 274% week-on-week and up 7% year-on-year [4]. - The cumulative transaction area for new homes from March 1 to 5, 2026, was 700,000 square meters, reflecting a 27.8% decrease compared to February 2026 and a 24.2% decrease year-on-year [4]. - The report notes a recovery in the transaction volume of second-hand homes, with a total area of 1.9 million square meters in 24 cities, marking a week-on-week increase of 149.5% but a year-on-year decrease of 25.4% [4]. Summary by Sections New Home Transactions - In the week of March 5, 2026, the new home transaction area in 30 major cities was 1.47 million square meters, with significant increases in second-tier cities [4]. - The report indicates a substantial recovery in transaction volumes compared to previous weeks, driven by government policies aimed at stabilizing the market [4]. Second-Hand Home Transactions - The second-hand home transaction area in 24 cities reached 1.9 million square meters, showing a notable week-on-week increase but a decline year-on-year [4]. - First-tier cities reported a transaction area of 789,000 square meters, reflecting a week-on-week increase of 212.3% but a year-on-year decrease of 23.3% [4]. Land Transactions - The report states that land supply in the week of February 23 to March 1, 2026, was 7.54 million square meters, with land transaction area reaching 11.36 million square meters [4]. - The land premium rate was reported at 17.6%, indicating a recovery in land transaction dynamics [4].

Group 1 - The core viewpoint of the article highlights that Shenzhen's real estate market experienced a positive trend in the first week of December, with new home transactions increasing by 4.8% and second-hand home transactions rising by 6.2% compared to the previous week [1][3] Group 2 - In terms of demand, the market saw a 4.8% increase in new demand, with 83.7% of clients targeting homes priced below 10 million, indicating a focus on first-time and upgrade buyers [3] - Longgang district emerged as the most recognized area for value, accounting for 25.4% of buyer intentions with an average intended price of 3.48 million [3] - The distribution of active demand for "just need" and "just upgrade" housing is relatively scattered across Longgang, Luohu, Longhua, Pingshan, and Baoan districts, with Longgang Center City showing the most notable transaction performance [3]